Jones Energy Inc. (NYSE: JONE) completed its $136.5 million acquisition in the Stack and Scoop plays and as a result opened an office in Oklahoma City, the company said Sept. 27.
Jones, which is based in Austin, Texas, had entered the agreement Aug. 18 to acquire about 18,000 net acres primarily in southern Canadian and northern Grady counties in Oklahoma. The seller is Scoop Energy Co. LLC, an associated company of American Energy Partners.
The company funded the acquisition with a portion of the about $152 million in net proceeds from its recently completed offerings of its common stock and preferred stock. Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC were joint book-running managers for the offerings.
Mike McConnell will lead the team at the company's new Oklahoma City office.
"We believe having a local presence will play a key role in helping us realize the full potential of this impressive new asset and I am excited to lead that effort," McConnell said in a statement.
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Jones Energy Steps Into The Stack/Scoop With 18,000 Net Acres
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